TaxTMI 
TaxTMI 
2008 (6) TMI 356
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....ter publication of notice by the respondent by recording its reasons is questioned in this appeal by the appellants urging various grounds. 2. Learned senior counsel Sri G. Sarangan on behalf of the appellants submits that the order is not a speaking order and the appellants have not passed an order of rejection of the claim of the respondent for transfer of shares from the name of his deceased father to his name as his claim is not in conformity with section 108 of the Companies Act read with regulation 26 of the Regulations. Therefore, he has urged that the order of the Company Law Board is not sustainable in law. Further, learned senior counsel submits that the Will executed by the deceased K.C. Thomas, dated 21-5-1988, is the last Will....
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.... not entitled for transfer of the shares in the first appellant's-company, in his name. Therefore, the same does not call for our interference in exercise of our appellate jurisdiction and power. 4. The Company Law Board has taken care of the interest of the company and third parties who may prefer claim in respect of the shares in question by giving a direction to it to transfer the shares of the deceased Thomas to the name of the respondent after publishing notice in the daily local newspaper, where the first appellant-company is situated for the reason that the share certificate is not available and produced by the respondent before the company and Board. In the absence of the same, the respon- dent was willing to execute an indemnity b....